Forex Daily Forecast, Analysis and Prediction

The USD/ZAR moved within a solid range on Tuesday and the currency pair may be able to accomplish the same story in forex today.

EUR/USD: Narrowing triangle

The old saying that the trend is your friend in forex is understood by traders.

The silver market has rallied a bit to kick off the Tuesday session, breaking above the top of the hammer from the Monday session.

The bitcoin market did extraordinarily little during the trading session on Tuesday, as the markets were all over the place outside of the crypto world.

Gold markets have been choppy during the trading session on Tuesday as Jerome Powell spoke in front of Congress.

The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Tuesday, breaking above the top of the hammer from the previous session on Monday.

With the beginning of this week’s trading, the EUR/USD pair succeeded in rebounding higher, reaching the 1.1332 resistance, after the recent downward corrections that pushed the pair towards the 1.1212 support.

In the beginning of this week’s trading, gold price fell to the $1704 support, with a positive shift in the performance of global financial markets, which increased the profit-taking sell-offs.

Gains are still facing caution and anticipation over the course of Brexit negotiations.

Before the announcement of the Japanese central bank monetary policy today, the USD/JPY pair remained under downward pressure.

The Australian dollar initially plummeted during the trading session on Monday as traders were concerned about the coronavirus having an effect on the global growth situation,

The NASDAQ 100 has broken down significantly initially to kick off the trading week, but then turned around quite massively

Silver markets fell significantly during the trading session initially on Monday but found enough support near the $17 level to turn around and form a massive hammer.

The British pound has initially fallen during the trading session on Monday to kick off the week but found enough support at the 50 day EMA to turn around and rally a bit.